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HOME EQUITY LINE OF CREDIT Get fast and
flexible access to
funds with a HELOC

Pay for everyday projects
or major updates.

Get a home equity line of credit

Introductory variable rate

variable APR¹ for first

6 months

Variable rate thereafter

variable APR¹;
includes discounts²

Rates above as of and subject to change.
Based on a line amount of $100,000 and an initial draw of $60,000.

Home Equity rates are unavailable at this time

Please try reloading the page again, or try back later. You can also call and speak to an agent Monday through Friday, 8:00 am to 10:00 pm Eastern and Saturday 8:00 am to 6:30 pm Eastern.

Information for:

Call 1.800.593.7306 Mon - Fri 8 a.m. - 10 p.m. Eastern | Sat 8 a.m. - 6:30 p.m. Eastern

A HELOC can cover the end-to-end costs of many different types of projects.

a couple looking at a laptop

Kitchen³

Electrical wiring and lighting
$2,500 – $4,800

Plumbing
$3,000 – $6,000

Install cabinets
$3,000 – $8,000

Appliances
$2,500 – $9,000

Install flooring
$1,100 – $5,500

Refinish countertop
$1,600+

Home Sweet Home doormat

Bathroom⁴

Cabinets and hardware
$1,050 – $3,400

Fixtures
$1,000 – $3,200

Faucets and plumbing
$900 – $3,000

Flooring
$600 – $1,900

Countertops
$450 – $1,500

Lighting and ventilation
$300 – $1,100

2 men looking over house plans

Living room⁵

Interior painting
$600 – $2,000

Flooring installation
$1,600 – $4,600

Fireplace installation
$1,000 – $5,000

Crown molding
$400 – $1,100

Carpet installation
$250 – $800

Window replacement
$400 – $800 per window

Why choose a HELOC from Bank of America?

Get funds for every step of your home updates with these benefits:

No closing costs¹

Plus, no application fees, no annual fees, and no balance transfer or cash advance fees.

Interest rate discounts

Receive an interest rate discount of up to 1.50% for withdrawals made at account opening.²

Fixed-rate loan option

Enjoy the option to convert all or part of your balance to a stable, fixed rate with no fee.⁶

Flexible access

Access available credit when you need it — you only pay interest on what you actually borrow.

Why tap out your savings for home updates?
Apply for a HELOC today!

Apply online Call 1.800.593.7306

1

You are invited to apply for a Home Equity Line of Credit (HELOC). This is not a commitment to lend; you must submit additional information for review and approval. Rate(s) and Annual Percentage Rate(s) (“APR(s)”) are for illustrative purposes only and are subject to change without notice. This invitation to apply is available for named recipient (and co-borrower, if any) of this material only, for new applications submitted between 1/1/2025 and 4/30/2025. Bank of America may discontinue Introductory Rate Home Equity Line of Credit offers without notice, regardless of originally-advertised offer period dates.

APR During the Introductory Period: The variable Introductory APR is based upon The Wall Street Journal Prime Rate (“Prime”) minus a discount. Prime may change at any time and is subject to change without notice. If Prime increases or decreases during the Introductory Period, the variable Introductory APR and minimum required payment will correspondingly change. The Introductory Period begins on the date of account opening. No client or other discounts are available during the Introductory Period.

APR After the Introductory Period: After the Introductory Period ends, any and all remaining balances will automatically convert to the variable APR per the terms of the HELOC agreement. The variable APR is based on Prime plus a margin, and will vary with Prime. Your APR will not exceed 24% or go below 1.99% at any time during the term of your account. Sample APR assumes a new $100,000 HELOC in second lien position with a combined loan-to-value (CLTV) ratio of up to 70% on a single-family detached primary residence and a borrower with excellent credit. APR may vary based on initial draw, actual CLTV, property value, property location, line amount and other factors. The term of a HELOC is 30 years: 10-year draw period, 20-year repayment period. Property insurance is always required and flood insurance is required where necessary. Certain property types are not eligible collateral. The variable minimum monthly payment will be an amount sufficient to repay the outstanding balance in principal and interest payments over the remaining term at the applicable APR, subject to a minimum payment of at least $100. The minimum line amount is generally $25,000, but lines as low as $15,000 are available in certain locations. The maximum line amount is generally $1,000,000, but may be $500,000 in certain locations. Bank of America pays all closing costs on lines up to and including $1,000,000. If you terminate your account within 36 months of opening it, you will be required to pay an Early Closure Fee of $450. The Early Closure Fee does not apply for accounts with a maximum line amount less than $25,000 or for properties located in Maryland.

Additional Information for HELOCs in Texas subject to Section 50(a)(6) of the Texas Constitution: Early Closure Fee does not apply. The minimum advance is $4,000, maximum CLTV is typically 80% and maximum LTV is typically 80%. Access to the HELOC account using an ATM card or other access cards is not allowed.

2

The following discounts are available on a new home equity line of credit (HELOC): (1) an "auto pay" discount of 0.25% for setting up automatic payment (at or prior to HELOC account opening) and maintaining such automatic payments from an eligible Bank of America deposit account; (2) an "initial draw" discount of 0.10% for every $10,000 initially withdrawn at account opening (up to 1.50% for initial draws of $150,000 or more). This initial draw minimum balance must be maintained for at least the first 3 billing cycles (less any required principal payments); and (3) a 0.25% discount for HELOCs in first lien position at account opening. These discounts are not available during the Introductory Period of any Introductory Rate offer. The advertised APR after the Introductory Period includes the auto pay discount, any applicable Preferred Rewards discount, and the initial draw discount based on a $60,000 assumed initial draw.

3

Kitchen data from Homeguide.com, accessed August 2022.

4

Bathroom data from Homeguide.com, accessed August 2022.

5

Living room data from Homeguide.com, accessed August 2022.

6

Fixed-Rate Loan Option at account opening: You may convert a withdrawal from your home equity line of credit (HELOC) account into a Fixed-Rate Loan Option, resulting in fixed monthly payments at a fixed interest rate. The minimum HELOC amount that can be converted at account opening into a Fixed-Rate Loan Option is $5,000 and the maximum amount that can be converted is limited to 90% of the maximum line amount. The minimum loan term is 1 year, and the maximum term will not exceed the account maturity date.

Fixed-Rate Loan Option during loan term: You may convert all or a portion of your outstanding HELOC variable-rate balance to a Fixed-Rate Loan Option, resulting in fixed monthly payments at a fixed interest rate. The minimum outstanding balance that can be converted into a Fixed-Rate Loan Option is $5,000 from an existing HELOC account. The minimum loan term is 1 year, and the maximum term will not exceed the account maturity date. No more than three Fixed-Rate Loan Options may be open at one time. Rates for the Fixed-Rate Loan Option are typically higher than variable rates on the HELOC.

Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.

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